CapitaLand Ascendas REIT Announces Significant Update to Board and Committee Composition

Key Highlights

• Appointment of New Director: Mr Tham Wei Hsing, Paul has been appointed as a Non-Executive Non-Independent Director and Member of the Investment Committee, effective 16 January 2026.
• Board and Committee Reshuffling: Following Mr Tham’s appointment, the composition of the Board of Directors and key board committees, including the Audit and Risk Committee, Investment Committee, and Nominating and Remuneration Committee, has been updated.
• Compliance and Transparency: The appointment and updated compositions have been disclosed in compliance with Rule 704(7) of the Singapore Exchange Listing Manual, ensuring transparency to shareholders.

Details of the Board and Committee Changes

CapitaLand Ascendas REIT Management Limited, as the manager of CapitaLand Ascendas REIT, has announced the appointment of Mr Tham Wei Hsing, Paul to the Board as a Non-Executive Non-Independent Director. Mr Tham will also serve as a Member of the Investment Committee, effective from 16 January 2026.

The revised structure of the Board of Directors is as follows:

• Dr Beh Swan Gin – Chairman, Non-Executive Independent Director
• Mr William Tay Wee Leong – Chief Executive Officer, Executive Non-Independent Director
• Mr Daniel Cuthbert Ee Hock Huat – Non-Executive Independent Director
• Mr Chinniah Kunnasagaran – Non-Executive Independent Director
• Ms Ong Lee Keang Maureen – Non-Executive Independent Director
• Ms Choo Oi Yee – Non-Executive Independent Director
• Mr Manohar Khiatani – Non-Executive Non-Independent Director
• Mr Tham Wei Hsing, Paul – Non-Executive Non-Independent Director

The updated composition of the Board’s committees is as follows:

Audit and Risk Committee

• Mr Daniel Cuthbert Ee Hock Huat (Chairman)
• Mr Chinniah Kunnasagaran (Member)
• Ms Ong Lee Keang Maureen (Member)

Investment Committee

• Mr Manohar Khiatani (Chairman)
• Dr Beh Swan Gin (Member)
• Mr William Tay Wee Leong (Member)
• Mr Chinniah Kunnasagaran (Member)
• Ms Choo Oi Yee (Member)
• Mr Tham Wei Hsing, Paul (Member)

Nominating and Remuneration Committee

• Dr Beh Swan Gin (Chairman)
• Mr Daniel Cuthbert Ee Hock Huat (Member)
• Mr Manohar Khiatani (Member)

Implications for Shareholders

The addition of Mr Tham Wei Hsing, Paul to both the Board and the Investment Committee could signal a shift in strategic direction or a strengthening of the management team’s capabilities, particularly in investment decision-making. Such appointments are often closely watched by shareholders as they may impact the REIT’s investment strategy, risk management, and overall corporate governance.

Given that the Investment Committee plays a crucial role in evaluating and approving significant investment decisions, the appointment of an additional experienced member may enhance the committee’s effectiveness and potentially influence future investment outcomes. This, in turn, could have a direct impact on the REIT’s performance and ultimately shareholder returns.

Investors should note that changes in board composition, especially with the inclusion of non-independent directors, may also affect how independent oversight is exercised within the REIT. However, the overall balance of independent and non-independent directors remains robust, which should help maintain good governance practices.

Conclusion

The announcement of Mr Tham Wei Hsing, Paul’s appointment and the resulting updates to the Board and key committees are important developments for CapitaLand Ascendas REIT. Shareholders and potential investors should monitor these changes closely, as they could influence the REIT’s medium- to long-term strategy and financial performance.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors are advised to conduct their own due diligence and consult with professional advisors before making any investment decisions. The views expressed herein are based on publicly available information as of the date of publication and are subject to change without notice.

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